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Make the sofrito: Heat the oil in a large, heavy bottomed skillet with high sides over medium high heat. Add both types of onions, red and green peppers, cilantro, garlic and bay leaf. Cook for 5 minutes or until they start to soften. Add Sazón Goya and tomato paste. Cook for 3 minutes and set aside.
Par-cook the rice: To a large pot, add 6 cups of water and bring to a boil. Add 2 cups of rice and cook for 10 minutes. Stirring often. Set aside.
Remove 1 cup of sofrito and reserve.
Heat the skillet with the sofrito over medium heat, add the rice (with any remaining water), 4 cups of seafood stock, oregano, and salt and pepper to taste. Cook for 5 minutes.
Add the seafood mix. Cook for another 5 minutes, stirring constantly.
Serve stew immediately and top with the reserved sofrito.